Beating Buffett Series
A near $200 dip in a span of less than 3 days.
Heart attack anyone?
I have to admit this is one of those times which I had not anticipated in the short term. However I am not totally shell-shocked.
Possible reasons? Blocksize debate without any positive solutions and about 120,000 bitcoins lost in a prominent exchange? Or even conspiracy theories?
In fact I have to admit I am one of those culprits who stayed up in the early morning to partake in the slump when I detected the big moves coming, sorry guys.
I went in in the highs of $500 though before I fell into an uncontrollable slumber, no big deal, since I am always in for the mid to longer term.
If you read my previous analysis, I did mentioned that while it is quite impossible to penetrate $400, there is a slight chance of the dropping knife piercing through $500, and indeed it reached $477, before rebounding to $530+. Just to refresh your memories, I did somehow estimated the short term equilibrium to be around $600.
Well if you ask me, this is exactly the kind of game I love.
What a moment to share one of my favorite sayings:
“If you can’t stand the heat, get out of the kitchen.”
